An LLC is a business structure that combines the liability protection of a corporation with the tax flexibility of a partnership. It's the most popular choice for small to mid-size businesses.
2,400+ monthly searchesTax Classification
Flexible (default partnership or corporation)
Ownership Structure
Member-owned (1 or more members)
Liability Protection
Yes
Complexity
Moderate
Limited liability protection for owners (members)
Pass-through taxation (no double taxation)
Flexible profit distribution
Less formal compliance requirements than corporations
Can elect to be taxed as S-Corp for tax savings
Credibility and professional appearance
File Articles of Organization with state
Obtain an EIN from the IRS
Create an Operating Agreement (recommended)
Register for state and local taxes
Obtain necessary business licenses and permits
Open a business bank account
Small to mid-size businesses, startups, freelancers with employees
Start your Limited Liability Company application today and get your EIN in as little as 4 hours.